SMB Posted February 20, 2001 Posted February 20, 2001 Am looking for providers of an "integrated" SEP (which must be on a prototype SEP document versus IRS Form 5305-SEP) with which readers have had experience. Thanks for any and all responses.
Bill Berke Posted February 21, 2001 Posted February 21, 2001 I have never seen an integrated SEP protoptype. You could have an individually designed/drafted SEP document if it makes financial sense to employer. And it would not make sense for someone to sponsor such a prototype document because few employers (if any) would ever do the integration calulation correctly and then we get into all kinds of legal/tax issues to employer and prototype sponsor. A non-integrated plan is easy for the employer to operate and understand. And even then there are, frequently, eligibility mistakes - accidently excluding eligible employees.
Lynn Campbell Posted February 22, 2001 Posted February 22, 2001 One of my clients has an integrated SEP with Prudential Securities. Maybe this will be of help...
Bill Berke Posted February 22, 2001 Posted February 22, 2001 To Lynn Campbell -I'm curious who does the integrated calculations for the employer?
Lynn Campbell Posted February 22, 2001 Posted February 22, 2001 I have been the lucky person to do these calculations.
Guest AFRICA6796 Posted February 23, 2001 Posted February 23, 2001 Pershing, divivision of Donaldson Lufkin & Jenrette Securities Corporation (DLJSC) Now division of Credit Suisse of First Boston (CSFB) offers a prototype SEP which has a provision for integration with social security. The SEP plan document includes very easy to understand step by step instructions on computing the integration contributions. I think that you need to go through a Broker-dealer firm that clears through them. I use it- i am not a CPA and I am able to do my own calculations by follwing the instructions in the document
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